Health Catalyst, Inc (HCAT) Fair Value & Analysis
Healthcare · US · Market cap $129M
Health Catalyst, Inc
HCAT · US
Fair value as of: Jul 24, 2026
From 2 valuation models · updated 17 days ago
Share price −21.4% over the past month.
Below-average quality, and screening another 46% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($1.51). The favourable scenario is already priced in.
- Weak quality (25/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide ($0.3570 to $1.51). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.
How to read this chart
60‑month range $0.9963 – $58.64 · fair‑value band $0.3570 – $1.51 · the $1.73 price screens above the $0.9350 fair value. Dashed = 300-day average. As of Jul 24, 2026.
Analysis
Health Catalyst, Inc (HCAT) currently trades at $1.73, while our model-based Fair Value estimate is $0.9350, implying the stock looks roughly 46.0% overvalued today. The Quality Score stands at 25/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Over the trailing twelve months, Health Catalyst, Inc generated revenue of $302M at a net margin of -87.7%. Revenue declined 10.9% year over year. Net debt stands at $120M. Fundamentals as of Jul 24, 2026
Our scenario range runs from $0.3570 (bear case) to $1.51 (bull case); at $1.73, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 58% below its 52-week high and 81% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -53% fair-value upside, at -46%, HCAT screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 2 models by family
Widest divergence: Asset-Based ($2.23) versus Multiples ($1.36). Highest evidence: EV/EBITDA (54).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 29 · Market factors (momentum, volatility) 18
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Health Catalyst, Inc. provides data and analytics technology and services to healthcare organizations in the United States. The company operates in two segments: Technology and Professional Services.
Full company description
Health Catalyst, Inc. provides data and analytics technology and services to healthcare organizations in the United States. The company operates in two segments: Technology and Professional Services. It offers ignite data and analytics platform that provides clients a single comprehensive environment to integrate and organize data from their disparate software systems; and applications, a software analytics applications build for ignite platform to analyze clients face across clinical improvement, revenue and cost improvement, ambulatory operations, measures and registries, and data and analytics. The company also provides expertise solutions comprising data and analytics, domain expertise and education, tech-enabled managed, and implementation services; and opportunity analysis and prioritization, data governance, data modeling and analysis, quality and process improvement strategy, cost accounting, data abstraction, and population health strategies. It serves academic medical centers, integrated delivery networks, community hospitals, large physician practices, accountable care organizations, health information exchanges, health insurers, life science organizations, healthcare technology vendors, and other risk-bearing entities. The company was formerly known as HQC Holdings, Inc. and changed its name to Health Catalyst, Inc. in March 2017. Health Catalyst, Inc. was founded in 2008 and is headquartered in South Jordan, Utah.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Health Catalyst, Inc reported revenue of $311M in FY2025 versus $242M in FY2021, a compound +6.5%/yr. Reported net income was −$178M in FY2025.
HCAT screens 46% overvalued. Compare with Veeva Systems Inc →
Peer Group
Health Information Services · 126 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Health Information Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 25/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $190.12 | $95.12 | -50% |
| Pro Medicus Limited PME | A$194.84 | A$23.74 | -88% |
| BrightSpring Health Services, Inc BTSG | $68.16 | $21.31 | -69% |
| HealthEquity, Inc HQY | $97.67 | $56.63 | -42% |
| Hinge Health, Inc HNGE | $88.80 | $24.03 | -73% |
| 10x Genomics, Inc TXG | $45.75 | $17.18 | -62% |
| Waystar Holding WAY | $22.69 | $12.86 | -43% |
| Doximity, Inc DOCS | $22.21 | $17.18 | -23% |
| Privia Health Group PRVA | $28.10 | $5.30 | -81% |
| Inventurus Knowledge Solutions Limited IKS | ₹1,846 | ₹860.28 | -53% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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